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We React to Chancellor Rishi Sunak’s Winter Economy Plan

After cancelling his much-expected autumn budget, Chancellor Rishi Sunak last week instead outlined the UK government’s plans to try and protect jobs with the threat of a second lockdown looming.

Addressing MPs at the House of Commons, Mr Sunak unveiled his ‘Winter Economy Plan’ which includes a new Jobs Support Scheme for specific industries, an extension to the cut in VAT for some sectors and further support for effected businesses and workers.

Responding to the announcement, our very own Steven Mason, insolvency practitioner …

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EXTENSION TO ACT ‘AMOUNTS TO STICKING PLASTER’

The government’s decision to extend measures in the Corporate Insolvency and Governance Act is a double edged sword which ultimately amounts to short-term sticking plaster, says insolvency specialist Steven Mason.

The provisions were designed to stave off a deluge of company failures during the pandemic.

Steven, a senior corporate insolvency manager at forensic accounting and insolvency practice Inquesta, said: “Treasury officials have been frantically looking at ways to cushion the economic blow of a second lockdown, and some people will say that …

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The UK economy – is the perfect storm brewing?

There is no doubt that the long-term impact of COVID 19 on the UK economy is uncertain.

However, one thing we can say for sure is that uncertainty never bodes well for an economy.

Over the past few months, the UK government has announced numerous measures to try to protect jobs and people’s incomes, including; bounce back loans, CBIL, furlough, business rates grants, deferral of VAT and income tax payments, reduction in residential stamp duty and Eat Out to Help Out.

Whilst these …

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The Positive Side of Insolvency

Is insolvency all bad?  

As a participant at a recent online event, I was asked to link my business ‘offering’ to the fast-approaching festive season.

Not an easy task when people usually consider the insolvency process to be the very antithesis of Christmas cheer.

Having resisted the temptation to compare myself with Scrooge, the question did get me thinking: Where circumstances make it inevitable, can a positive spin be put on the insolvency process?

I believe that you can and here’s why:

1) Directors …

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Eat Out To Help Out – Business Review

The end of August marked the culmination of Chancellor Rishi Sunak’s popular Eat out to Help Out scheme. Despite the misery caused by COVID-19, one of the few high points of recent months arrived in the form of the government-sponsored, half-price meal scheme. 

The scheme, which gave diners 50% of meals up to a maximum of £10, undoubtedly tempted many people back into restaurants after lockdown came to an end. Over 84,000 eateries signed up to the scheme, with an estimated …

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